Tax Deductions Blog

Until now, non-UK residents have been subject to tax on capital gains only in respect of UK dwellings. With effect from April 2019, gains arising from disposals of all UK land will be subject to CGT or corporation tax. The main provisions can be summarised as follows:

In September 2010, the Government pledged to make funding available to HM Revenue & Customs ("HMRC") to ensure that there was a five-fold increase in criminal prosecutions for tax evasion. In January 2013, a seven-fold increase in the number of prosecutions for non-organised tax crime was proposed. Despite reservations expressed by the National Audit Office (in December 2015), about the cost-effectiveness of this strategy, further funding in respect of criminal tax investigations was announced in Budget 2015; this time, the aim was that HMRC triple the number. The focus on more investigations and prosecutions has been maintained, notwithstanding the political maelstrom.